In this article, we will explore the Saro loan app. If you need an emergency loan and are considering using the Saro loan app, this article could be useful to you. Since there are many fake loan apps in the market, it is your responsibility to thoroughly vet the Saro loan app before borrowing; ensure you have gathered complete information about any lending app before taking a loan—details regarding this are provided below in the article.
About the Saro loan app
The Saro loan app is an online lending platform that claims to offer loans ranging from ₹2,000 to ₹1,20,000, with a repayment period of 270 to 365 days. According to the app, it facilitates loans through its RBI-registered NBFC partner, SAROJANIL TECHNOLOGY PVT LTD.
However, when we actually took a loan from the Saro app, we initially received only ₹1,000, with a repayment deadline of just 7 days. The claims made by this app are false; it is not registered with the RBI. It falls into the category of “7-day loan apps” and is designed solely to harvest user data and trap borrowers in a scheme involving processing fees.
Saro Loan App – Signs of a Scam
Before downloading the Saro loan app, it is important to be aware of certain warnings and suspicious signs (red flags).
Saro Loan App (Red Flags)
Discrepancy between promises and reality – For instance, the app promises loans ranging from ₹2,000 to ₹1,20,000 but actually disburses only ₹1,000; this indicates that the app is primarily designed to harvest user data.
Violation of RBI regulations
Making false promises and misleading users in the app’s “About” section violates RBI regulations.
False claims
The Saro loan app promises emergency loans ranging from ₹2,000 to ₹1,20,000; in reality, it offers a loan of only ₹1,000 for a 7-day tenure—a practice that contravenes RBI policies.
Coercive recovery tactics
Some users have reported coercive recovery methods—including unauthorized access to their contact lists—tactics frequently observed in fraudulent loan apps.
RBI Verification
Users are strongly advised against taking loans from the Saro loan app; before borrowing from any app, always verify its registration status on the official RBI website.
Points to consider while applying
- When applying for a loan, be cautious of apps that request excessive permissions—such as access to your contacts or photo gallery—as this information could be misused.
- Before applying for a loan, ensure that the lending app is registered with the Reserve Bank of India (RBI).
- Carefully read all terms and conditions, interest amounts, fees, and other relevant details before accepting any loan offer.
- Always avoid loan apps that demand payment before processing your application.
- Choose loan apps that provide transparent information and clear details regarding customer support.
Saro Loan App Customer Care Number
Saro Loan App has not provided a toll-free number or mobile number for customer support, but it does offer email support.
- Email: help@sarojanil.com
saro loan app download
You can download the Saro loan app from https://sarojanil.com/; this loan app has been removed from the Google Play Store.
Saro Loan App: Real or Fake
The Saro loan app claims to offer a loan of ₹1,20,000 with a tenure of 360 days. However, both these claims are completely false. Upon taking a loan from this app, we discovered that the actual loan amount is only ₹1,000, and the repayment period is merely 7 days. This proves that the app’s sole objective is to trap people in a web of processing fees and interest. Furthermore, the app is not registered with the RBI; there are several indications confirming that the Saro loan app is fake.
Note:- This article is written for informational purposes only. If you decide to take a loan from the Saro loan app, please exercise good judgment and proceed with caution.